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Wednesday, May 22, 2013
Mandel Group to break ground on Whitefish Bay project
May 15, 2013 10:00 AM
Milwaukee-based Mandel Group Inc. will hold a groundbreaking ceremony on Wednesday, May 29, to celebrate the start of construction for its $28 million Beaumont Place project, an 83-unit, three-building apartment development that will be built in Whitefish Bay.

The three four-story buildings will be built south of East Beaumont Avenue between North Santa Monica Boulevard and North Consaul Place. The site is just north of the Silver Spring Drive retail corridor.

The Beaumont Place apartments will have 1-3 bedrooms, 800 to 2,000 square feet of space with market rate rents ranging from $1,500 to $3,000 a month.

“This is really an empty-nester kind of market,” said Richard Lincoln, senior vice president for Mandel Group.

The building will have 177 underground parking spaces for residents and 132 grade-level parkings spaces for the public, located underneath two of the apartment buildings.

Construction is expected to be complete by late summer of 2014.

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Angelic Bakehouse groundbreaking today in Cudahy
May 15, 2013 09:00 AM
Angelic Bakehouse held a groundbreaking ceremony this morning to celebrate the start of construction of its new, 22,000-square-foot production facility at 3275 E. Layton Ave. in Cudahy. The project is expected to be complete this fall and then the company will relocate its operations from Waukesha.

The $2.3 million project was financed with the help of BMO Harris Bank. Wahlgren-Schwenn Inc. of Menomonee Falls provided architectural services and construction management for the building.

Angelic Bakehouse is the only producer in the central U.S. of fresh, sprouted grain products. The bread is made with GMO-free grains, no preservatives, U.S.-sourced honey and sunflower oil. The company’s sprouted grain products include breads, buns, rolls, pizza dough and specialty items.

Angelic Bakehouse, formerly known as Cybros The Sprouted Bakehouse, was purchased by the Marino family in 2009. The company has 30 employees that will making the move to the new facility. Within three years the company expects to have 100 employees in the new facility.

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Metro area home sales up 2.3% in April
May 15, 2013 10:00 AM
Home sales in the four-county metro Milwaukee area were up 2.3 percent, to 1,576, in April compared to April of 2012, according to the latest report from the Greater Milwaukee Realtors Association (GMAR).

The biggest increase was in Washington County, where home sales were up 39.8 percent in April to 165.

“Washington County saw a huge increase in sales, and may be a sign of a new business model in the market,” said Mike Ruzicka, president of GMAR. “Brokers are reporting that investors are buying suburban homes to rent out for a period of time and plan to re-sell them when prices get back to pre-recession levels.”

Home sales in Waukesha County were up 5.9 percent to 434. Home sales in Ozaukee County were up 4.9 percent to 108. In Milwaukee County, home sales decreased 4.5 percent in April to 869.

A decrease in distressed sales volume contributed to the overall lower sales level in Milwaukee County, according to GMAR.

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Bank acquires Clarke Hotel in sheriff’s sale
May 15, 2013 10:00 AM
Sheboygan-based Community Bank & Trust recently acquired the Clarke Hotel, located at 314 W. Main St. in downtown Waukesha in a sheriff’s sale. The transaction was recorded on Thursday, May 9, according to state records.

The seller is listed as Bethesda Development II LLC. The value of the property transaction is listed at $2 million. The property has an assessed value of $4.75 million, according to county records.

The hotel opened in 2008 and was developed by Andrew Ruggeri and Drew Vallozzi. But in 2009 Ruggeri resigned his managerial duties.

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Brookfield office building sold for $1 million
May 15, 2013 10:00 AM
David Zanon, the owner of Wauwatosa-based Nu-Art Dental Laboratory Inc., recently purchased a vacant 30,000-square-foot office building at 160 Bishops Way in Brookfield for $999,000, according to state records.

The building, formerly occupied by Secure Fire & Safety LLC, was sold by Bishop's Way LLC, a subsidiary of Pewaukee-based VJS Construction Services Inc.

Nu-Art Dental Laboratory, located at 353 N. 121st St. in Wauwatosa, fabricates dentures, orthodontics, cosmetic dental restorations, dental implants, dental crowns and bridges.

"We are going to be using (the Brookfield building) for a dental laboratory," Zanon said.

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Penzeys to move corporate offices to Northridge
May 15, 2013 09:00 AM
Penzeys Spices has been tight-lipped and vague publicly about its plans for the former Northridge Mall property, located near Brown Deer Road and North 76th Street on Milwaukee’s far northwest side, which the company is in the process of acquiring.

Bob Bourgeois, a director of marketing and advertising for Penzeys, said no specific plans are in place for the property yet.

“It will be at least a year before we’re even going to be able to talk about moving anything up there,” he said.

However, Bourgeois said it is “likely” the company will move its corporate offices to the former mall property. The company’s corporate offices are currently located in a 90,000-square-foot building at 19300 W. Janacek Ct. in Brookfield. However, that is not considered the corporate headquarters for the company. The 300,000-square-foot facility at 12001 W. Capitol Dr. in Wauwatosa, which is used for production, is considered the company’s headquarters, Bourgeois said.

When asked if the former Northridge property could become the company’s corporate headquarters, Bourgeois said that is unclear at this point. “It could be,” he said. “We like the city of Milwaukee.”

The company’s production work was previously done at the Brookfield building before the company expanded and added the Wauwatosa facility, moving production there, Bourgeois said.

The company is currently “at capacity” at the Wauwatosa facility, Bourgeois said. “We need more space,” he said. “Our space needs will be dictated by growth.”

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Subdivision planned in Brookfield at former school site
May 15, 2013 10:00 AM
Neumann Companies plans to build a 25-home subdivision on a 6.5-acre site in Brookfield.

The firm recently purchased the 57,841-square-foot former Heritage Christian School building at 1275 S. Elm Grove Road in Brookfield, from Evangelical Christian Credit Union.

Kevin Barry and James Young of Cassidy Turley Barry represented the credit union in brokering the sale.

Neumann Companies will tear down the building to make way for the new subdivision.

“This shows that housing market activity is picking up,” said Barry. “Certain residential developers are showing confidence with projects like this one.”

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Alegus Technologies moves from Brown Deer to Wauwatosa
May 15, 2013 09:00 AM
Alegus Technologies recently moved from Bown Deer to Wauwatosa and is leasing 8,000 square feet of space at 1000 Innovation Dr., a 203,000-square-foot office building owned by Irgens.

The building, located in the Milwaukee County Research Park, now has an occupancy rate of more than 98 percent, according to Irgens.

David Pudlosky of Jones Lang LaSalle brokered the deal for Alegus.

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Indoor sports complex planned in Glendale
May 15, 2013 10:00 AM
An investors group consisting of developer Joshua Jeffers, the owner of J. Jeffers & Co., Shelley Lamoreaux of the North Shore Arsenal Soccer Club and John Lamoreaux, the owner of Ticket King, plan to purchase a 25,000-square-foot building at 2920 W. Vera Ave. in Glendale, which they will convert into an indoor sports complex called Inbounds Training.

The facility is currently used as a warehouse but was originally built for indoor tennis, Jeffers said.

“In a way, we’re returning it to its original use,” he said. “It has very high ceilings, no columns, just a wide open space.”

The facility will have a special sports floor to accommodate futsal, a game similar to soccer but with a smaller and heavier ball. The facility will focus on futsal, but will also be used for other sports training and leagues including volleyball, basketball, field hockey, and lacrosse.

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Irgens to build medical office building in Baraboo
May 15, 2013 09:00 AM
Wauwatosa-based commercial real estate development firm Irgens and St. Clare Hospital today announced development plans for a $6.5 million, 30,000-square-foot medical office building on the hopsital’s campus in Baraboo.

SSM Healthcare, the owner and operator of St. Clare Hospital, and Dean Health System will provide a variety of primary and specialty care services at the facility. Dean Health System is leasing half of the building and St. Mary’s Dean Ventures is leasing the other half.

Eppstein Uhen Architects designed the building and the general contractor for the project is J.H. Findorff & Son Inc.

The project is expected to be complete in December.

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Real estate odds and ends
May 15, 2013 09:00 AM

Panel approves plans for huge warehouse in Pleasant Prairie
The Village of Pleasant Prairie Plan Commission this week approved previously announced plans by Majestic Realty Company to build a 1.18 million-square-foot warehouse and distribution center on a 87.5-acre site east of 88th Avenue and south of Bain Station Road. Majestic has not indicated who will occupy the building. The company plans to begin consruction of the facility this summer.

Spring Park Apartments sold
The Spring Park Apartments complex at 7401-7535 W. Silver Spring Dr. in Milwaukee was sold recently in a sheriff's deed sale to Chatsworth, Calif.-based HCP Properties Inc., according to state records. The value of the transaction is listed as $2.355 million. The property was sold by Daniel Bruckner of Fox Point.

Wauwatosa industrial building sold
Endeavor 4480 LLC recently purchased a 78,786-square-foot industrial building at 4480 N. 124th St., Wauwatosa, from The Wagner Companies for $780,000, according to state records. The building, constructed in 1956, has rail access, a crane and heavy power, according to LoopNet.

DSM acquires Waukesha building from Cargill
DSM Food Specialties USA Inc. acquired the building at 620 Progress Dr., Waukesha, from Cargill Inc. The deal was recorded on Friday, May 10, accoding to state records. The sale price is listed at $680,000 in state records. The property has an assessed value of $3.1 million, accoding to Waukesha County records. Last year Cargill announced it was selling its cultures and enzymes business to DSM

Former M&I Bank CEO buys Capitol Drive church building
Dennis Kuester, the former chairman, president and chief executive officer of M&I Bank, recently purchased a church building at 2328 W. Capitol Dr., Milwaukee, from Lifestyle Ministries for $94,500, according to state records, which list Kuester's residence as Naples, Fla.

Another sign planned for Brewhouse Inn & Suites
A sign for Jackson's Blue Ribbon Pub will be added to the Juneau Avenue and 10th Street corner of the Brewhouse Inn & Suites hotel building in the former Pabst brewery complex in downtown Milwaukee. The sign will be similar to the existing sign for the hotel at the northeast corner of the building. The sign must be approved by the city's Historic Preservation Commission.

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Leases
May 15, 2013 10:00 AM

Anderson Commercial

Airgas Safety leased 13,000 square feet of office space at 12000 W. Park Place, Milwaukee.

Moraine Park Technical College leased 9,700 square feet of space at N173 W21150-60 Northwest Passage Way, Jackson.

Young Touchstone leased 5,000 square feet of office space and Simko leased 1,250 square feet of office space at Corporate Square in Oak Creek.

Tammy Davis leased 4,900 square feet of space at 14150 W. National Ave., New Berlin, from David Belan.

The Milwaukee Journal-Sentinel leased 4,000 square feet of space at 1103 Mineral Springs, Port Washington, from Patriot Properties.

State Farm Insurance leased 1,444 square feet of office space at 2448 S. 102nd St., West Allis.

Banker’s Life leased 1,114 square feet of office space at 2448 S. 102nd St., West Allis.

Colliers International

Educational Enterprises leased 3,984 square feet of office space at 20935 Swenson Dr., Brookfield.

Purity Corp. leased 2,250 square feet of warehouse space at 2082 S. 56th St., West Allis.

Mid-America Real Estate

Buffalo Wild Wings leased 1.51 acres at 5880 Durand Ave., Racine.

Athletico leased 2,542 square feet of space at Kopp’s Corner, 4749 S. 76th St., Greenfield.

General Nutrition Corp. (GNC) leased 1,440 square feet of space in Brady Place at 1414-38 E. Brady St., Milwaukee.

Grace & Shelly’s Cupcakes leased 1,400 square feet of space in the Fox Bay Building at 308 E. Silver Spring Dr., Whitefish Bay.

NAI MLG Commercial

Dollar Tree Stores Inc. leased 12,125 square feet of space at 2303-49 N. Martin Luther King Jr. Dr., Milwaukee, from 2349 LLC.

Wingstop leased 2,246 square feet of space at 7335 W. Good Hope Road, Milwaukee, from WDRR LLC.

Personal Finance Company leased 1,000 square feet of space at 4861-89 S. 27th St., Greenfield, from JMC Properties Inc.

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Sales
May 15, 2013 10:00 AM

Anderson Commercial

Michael Eidenberger purchased a 0.3-acre site at 528 W. Grand Ave., Port Washington, from Westbury Bank.

Mid-America Real Estate

Outpost Natural Foods Cooperative purchased 1.9 acres at 7512 West Mequon Road and 11234 N. Wauwatosa Road, Mequon.

Siegel-Gallagher

Outpost Natural Foods Cooperative purchased 1.9 acres at 7512 West Mequon Road and 11234 N. Wauwatosa Road, Mequon. The sale price was $550,000.

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New construction
May 15, 2013 10:00 AM

Brookfield-based Briohn Building Corp. recently completed the construction of a 7,500-square-foot medical clinic for Concentra at 5500 W. Brown Deer Road, Milwaukee. Briohn was also contracted by GE Healthcare to relocate and expand the commercial kitchen and cafeteria at N16 W22419 Watertown Road, Waukesha.

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Real estate people
May 15, 2013 10:00 AM

The Milwaukee office of Cresa recently added Shannon Mayer as a broker. Previously she worked for Foley & Lardner LLP on the firm’s marketing team. Cresa’s Milwaukee office now has a staff of 13 brokers and has added three new brokers since January.

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Andrew Weiland BizTimes Real Estate Weekly is compiled by BizTimes Milwaukee managing editor Andrew Weiland. This bulletin is published every Wednesday morning. Send real estate news tips to Andrew.Weiland@biztimes.com or call him at (414) 277-8181, ext. 120.

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